UPDATE: Wolfe Research Starts Caterpillar (CAT) at Outperform
Wolfe Research analyst Greg Badishkanian initiates coverage on Caterpillar (NYSE: CAT) with a Outperform rating and a price target of $265.00.
The analyst comments "Leading global manufacturer in construction equipment with global economic and inflationary activity now picking up. Prolonged demand in the U.S. housing market, a catch up in commercial activity, rebounding commodity prices, and leaner inventories should contribute to a new up cycle for CAT."
Shares of Caterpillar closed at $230.75 yesterday.
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